APM Terminals notifies of intention to exit 30.75% stake in Global Ports

MOSCOW. March 11 (Interfax) - APM Terminals, part of A.P. Moeller-Maersk A/S, intends to begin the process of exiting from the share capital of Global Ports, Global Ports said in a statement.

"On March 11, 2022, the company and its board of directors received notice from APM Terminals B.V., holding 30.75% of the shares in the Company, about the intention of APM Terminals B.V. to commence a process to divest its shareholding in the Company," according to the statement.

"APM Terminals further announced to the company and the board that they will continue to be represented on the board of directors and fulfil its obligations towards the company until such divestment has been effectuated," it said.

The Global Ports board of directors has 11 members, three of them independent - Soren Jakobsen, who is chairman, Mogens Petersen and Kristian Bai Hollund. Delo also has three representatives - Vladimir Bychkov, Andrei Lenvalsky and Alexandra Fomenko.

The others are Andrei Pavlyutin, Shavkat Kary-Niyazov, Britta Dalunde, Inna Kuznetsova and Lambros Papadopoulos.

APM Terminals has been a Global Ports shareholder since 2012.

Global Ports is the biggest container terminal operator in Russia with assets on the Baltic Sea and the Far East. It operates five terminals in Russia and two in Finland. The principal shareholders are Delo and APM Terminals B.V. with 30.75% each. Ilibrinio Establishment Ltd and Polozio Enterprises Ltd, the former owners of National Container Company, each have 9% stakes. The free float is 20.5%. Global Ports GDRs are traded on the London Stock Exchange.